Ircon International share rises over 9% as firm wins Rs 900-crore order from NHAI

Ircon International share price rose over 9 percent intraday today after the company won an order worth Rs 900 crore from NHAI. The stock opened with a gain of 9.22% at Rs 96 today. Later, the stock touched an intraday high of Rs 96.05, rising 9.27% against previous close of Rs 87.90 on BSE.

The share trades higher than 20 day, 50 day, 100 day and 200 day moving averages but lower than 5 day moving averages.

The share has gained 17.43% in one year and gained 13.56% since the beginning of this year. Later, the share closed 3.87% higher at Rs 91.30 on BSE.

Market cap of the firm rose to Rs 4,293 crore.

The share touched its 52-week high Rs 119.76 and 52-week low Rs 58.20 on 19 February 2020 and 24 March 2020, respectively.

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The company was awarded the work of up-gradation of Gurgaon- Pataudi-Rewari section of NH-352W (design length of 46. 110 km) as feeder route in the state of Haryana on Hybrid Annuity Mode valuing Rs 900 crore on competitive bidding basis by National Highways Authority of India (NHAI).

This work will be undertaken and executed by a special purpose vehicle which shall be incorporated by IRCON as its wholly-owned subsidiary company.

Meanwhile, Sensex ended 139 points higher at 46,009 and Nifty climbed 35 points to 13,513. During early session, Sensex hit an all-time high of 46,277 and Nifty too logged a record high of 13,566.

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